Service Navigation

Market structure

Market structureStock exchange segments for businesses of all sizes

Pre-IPO & Listing

European regulation allows for markets regulated by the EU and markets that are regulated by the exchanges themselves. On Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) a listing in the Regulated Market can be in the General Standard or in the Prime Standard, a sub-segment of the Regulated Market with greater follow-up duties and thus higher transparency requirements. In the Open Market, which the exchange itself regulates, company securities can be listed on the Scale® segment or on the Quotation Board.

For an overview of Deutsche Börse's primary market structure, please visit the Deutsche Börse Cash Market website.

Prime Standard

The right choice for issuers who, in particular, want to appeal to international investors. It sets the highest transparency requirements of all segments at the Frankfurt Stock Exchange and, indeed, in all of Europe.

General Standard

Primarily intended for medium-sized and large companies who seek to address national investors and want to use a cost-effective listing. In General Standard, the mandatory stipulations for the Regulated Market apply.


As a formally registered SME Growth Market, the Scale segment with its inclusion prerequisites tailored to small and medium-sized enterprises facilitates the raising of capital. This provides access to national and international investors.

Prime Standard for corporate bonds

In short, the premium segment for raising debt capital, offering large members of the “Mittelstand” and international corporations an avenue for raising debt capital through the exchange. Geared to recognised market leaders who seek to sharpen their international competitive edge and enhance their reputation by floating bonds.

Scale for corporate bonds

Our segment for SMEs offers an efficient opportunity to raise debt capital through the exchange. As a formally registered SME Growth Market, Scale facilitates the access to debt capital finance via the stock exchange for small and medium-sized enterprises. 

Basic Board

The Basic Board is the basic segment below Scale. It allows issuers of the former Entry Standard that do not fulfil the inclusion requirements of Scale to remain listed at the Frankfurt Stock Exchange.

Quotation Board

Access to the Quotation Board is possible for securities that are neither admitted to the Regulated Market of the Frankfurt Stock Exchange nor included in trading in the same Regulated Market. In addition to bonds and funds, only shares that are already admitted to another exchange trading venue recognised by Deutsche Börse AG inside or outside Germany are included.


The listing segment for shares issued by public limited real estate companies with special tax status (REITs). The REITs segment offers companies increased visibility and investor attention.